CloudFret is a digital logistics platform that utilizes AI to connect shippers with carriers, optimizing transport operations and minimizing empty truck returns. By streamlining freight management between Europe and Africa, the platform reduces shipping costs for shippers and increases revenue for carriers while lowering CO2 emissions.
Funding
$3.5M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
AMAIAPPAFounders
Product
Problem
The road freight industry faces challenges related to empty truck returns, leading to increased costs for shippers, reduced revenues for carriers, and unnecessary CO2 emissions. Traditional methods of connecting shippers and carriers often lack efficiency and transparency, resulting in underutilized truck capacity.
Solution
CloudFret offers a digital logistics platform that connects shippers and carriers via an AI-powered marketplace, optimizing transport operations and reducing empty truck returns. The platform enables shippers to find available carriers and book shipments, while allowing carriers to quickly locate loads to fill their empty trucks. By digitizing the freight shipping process, CloudFret provides real-time access to dematerialized documents and a geolocation system for tracking shipments. The platform's AI algorithms predict and optimize empty returns, aggregating carrier data to promote cost optimization and reduce environmental impact.
Target Audience
CloudFret targets shippers and carriers operating between Europe and Africa, including automotive equipment manufacturers and other businesses seeking to optimize their transport operations and reduce costs.
Features
- AI-powered matching algorithm to connect shippers with available carriers and optimize truck utilization
- Real-time shipment tracking through a geolocation system
- Digital document management for easy access to shipping paperwork
- Mobile application for carriers to quickly find available loads
- Marketplace for shippers to post orders and book shipments instantly
- Full Truck Load (FTL) and LTL Groupage options to maximize efficiency and minimize costs
- FastPay option for quicker payments after delivery
- Fuel card with discounts and deferred payment options
- Cargo insurance at competitive market rates